America’s push to upgrade airports gains traction as New Orleans opens new terminal later this year

Fly into New Orleans and you immediately see the construction of the airport’s new north terminal. When the $1.3 billion New Orleans terminal opens later this year, it will completely replace the existing gates at the Louis Armstrong New Orleans International Airport. It’s the latest upgrade and expansion of an airport in the U.S., a key part of America’s infrastructure sorely in need of major renovations. The Airports Council, a global industry trade group estimates U.S. airports will need $128


Fly into New Orleans and you immediately see the construction of the airport’s new north terminal. When the $1.3 billion New Orleans terminal opens later this year, it will completely replace the existing gates at the Louis Armstrong New Orleans International Airport. It’s the latest upgrade and expansion of an airport in the U.S., a key part of America’s infrastructure sorely in need of major renovations. The Airports Council, a global industry trade group estimates U.S. airports will need $128
America’s push to upgrade airports gains traction as New Orleans opens new terminal later this year Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-17  Authors: phil lebeau
Keywords: news, cnbc, companies, gates, market, gains, traction, later, americas, upgrade, flying, need, handle, way, push, airports, orleans, terminal, opens


America's push to upgrade airports gains traction as New Orleans opens new terminal later this year

Fly into New Orleans and you immediately see the construction of the airport’s new north terminal. With 35 gates, 14 TSA lanes and plenty of room to handle the growing number of people flying in and out of the Big Easy.

“As this market continues to grow we are in better position to handle the growth in this market,” said Kevin Dolliole, the director of aviation in New Orleans.

When the $1.3 billion New Orleans terminal opens later this year, it will completely replace the existing gates at the Louis Armstrong New Orleans International Airport. It’s the latest upgrade and expansion of an airport in the U.S., a key part of America’s infrastructure sorely in need of major renovations.

The Airports Council, a global industry trade group estimates U.S. airports will need $128 billion in upgrades by 2023.

“We are way, way, way behind,” former Transportation Secretary Ray LaHood said of the state of America’s airports compared to the other terminals around the world:

LaHood’s assessment is based on years of traveling around the globe both as a congressman and later as a member of former President Barack Obama’s cabinet. And he thinks Americans who fly around the world are tired of flying out of cramped, dated airports in the U.S. and landing in spacious, gleaming new ones overseas.


Company: cnbc, Activity: cnbc, Date: 2019-05-17  Authors: phil lebeau
Keywords: news, cnbc, companies, gates, market, gains, traction, later, americas, upgrade, flying, need, handle, way, push, airports, orleans, terminal, opens


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Credit Suisse has a portfolio of takeover plays that’s beat the market the last 5 years

Windows 10 upgrade cycle driving growth — and it’s only halfway…Microsoft will stop supporting Windows 7 and Office 2010 in 2020. As customers move to newer products, Microsoft will be able to sell them additional tools, an executive said…Enterpriseread more


Windows 10 upgrade cycle driving growth — and it’s only halfway…Microsoft will stop supporting Windows 7 and Office 2010 in 2020. As customers move to newer products, Microsoft will be able to sell them additional tools, an executive said…Enterpriseread more
Credit Suisse has a portfolio of takeover plays that’s beat the market the last 5 years Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-14  Authors: maggie fitzgerald
Keywords: news, cnbc, companies, portfolio, stop, office, takeover, thats, saidenterpriseread, products, market, windows, plays, upgrade, credit, supporting, sell, newer, beat, suisse, tools


Credit Suisse has a portfolio of takeover plays that's beat the market the last 5 years

Windows 10 upgrade cycle driving growth — and it’s only halfway…

Microsoft will stop supporting Windows 7 and Office 2010 in 2020. As customers move to newer products, Microsoft will be able to sell them additional tools, an executive said…

Enterprise

read more


Company: cnbc, Activity: cnbc, Date: 2019-05-14  Authors: maggie fitzgerald
Keywords: news, cnbc, companies, portfolio, stop, office, takeover, thats, saidenterpriseread, products, market, windows, plays, upgrade, credit, supporting, sell, newer, beat, suisse, tools


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Facebook investors increasingly unfazed by ‘content and privacy concerns,’ analyst says in upgrade

Guggenheim raised its rating of Facebook’s stock to buy from neutral on Thursday, saying shareholders are becoming more accustomed to data leaks and privacy uncertainty. “Investors will continue to gain comfort with the incremental financial risk created by content and privacy concerns,” Guggenheim analyst Michael Morris said in a note. The analyst sees “potential for commerce and messaging monetization opportunities as attractively priced within shares.” However, Guggenheim sees key limitations


Guggenheim raised its rating of Facebook’s stock to buy from neutral on Thursday, saying shareholders are becoming more accustomed to data leaks and privacy uncertainty. “Investors will continue to gain comfort with the incremental financial risk created by content and privacy concerns,” Guggenheim analyst Michael Morris said in a note. The analyst sees “potential for commerce and messaging monetization opportunities as attractively priced within shares.” However, Guggenheim sees key limitations
Facebook investors increasingly unfazed by ‘content and privacy concerns,’ analyst says in upgrade Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-04  Authors: michael sheetz
Keywords: news, cnbc, companies, video, share, investors, content, unfazed, analyst, sees, facebooks, morris, concerns, growth, stock, privacy, increasingly, facebook, upgrade, guggenheim


Facebook investors increasingly unfazed by 'content and privacy concerns,' analyst says in upgrade

Guggenheim raised its rating of Facebook’s stock to buy from neutral on Thursday, saying shareholders are becoming more accustomed to data leaks and privacy uncertainty.

“Investors will continue to gain comfort with the incremental financial risk created by content and privacy concerns,” Guggenheim analyst Michael Morris said in a note.

The social media platform’s growth has also “remained solid,” Morris said, especially within Instagram. The analyst sees “potential for commerce and messaging monetization opportunities as attractively priced within shares.”

However, Guggenheim sees key limitations to Facebook’s near-term growth, notably in video content.

“We still view the company’s video strategy as un-developed and see the economic opportunity as limited without uniquely recognizable content and a presence on the television screen to complement the mobile experience,” Morris said.

Facebook shares rose 1.4 percent in premarket trading from Wednesday’s close $173.54 a share. Guggenheim has a $200 price target on the stock, up from $175 a share.


Company: cnbc, Activity: cnbc, Date: 2019-04-04  Authors: michael sheetz
Keywords: news, cnbc, companies, video, share, investors, content, unfazed, analyst, sees, facebooks, morris, concerns, growth, stock, privacy, increasingly, facebook, upgrade, guggenheim


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Apple’s new AirPods are great, but you don’t need to upgrade if you already own the first model

But you don’t need to upgrade to these if you have the first-generation model. In just 2½ years, they’ve become almost as ubiquitous as the standard wired Apple earbuds that have been around since the original iPod. Along with the Apple Watch, AirPods have helped grow the company’s wearables and accessories category to $7.3 billion in revenue during the holiday quarter last year. So even though the new AirPods aren’t significantly different than the first version, you’re still getting an improve


But you don’t need to upgrade to these if you have the first-generation model. In just 2½ years, they’ve become almost as ubiquitous as the standard wired Apple earbuds that have been around since the original iPod. Along with the Apple Watch, AirPods have helped grow the company’s wearables and accessories category to $7.3 billion in revenue during the holiday quarter last year. So even though the new AirPods aren’t significantly different than the first version, you’re still getting an improve
Apple’s new AirPods are great, but you don’t need to upgrade if you already own the first model Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-01  Authors: todd haselton
Keywords: news, cnbc, companies, wired, dont, need, apples, upgrade, model, airpods, yearso, youre, wearables, siri, great, apple, wireless


Apple's new AirPods are great, but you don't need to upgrade if you already own the first model

I’ve been testing Apple’s second-generation AirPods, which add a couple of new features including wireless charging, better battery life for phone calls and support for calling up Siri whenever you want by saying, “Hey Siri.” They’re very good and still my top pick for wireless headphones.

But you don’t need to upgrade to these if you have the first-generation model.

Still, AirPods have turned into a blockbuster hit for Apple. In just 2½ years, they’ve become almost as ubiquitous as the standard wired Apple earbuds that have been around since the original iPod. Along with the Apple Watch, AirPods have helped grow the company’s wearables and accessories category to $7.3 billion in revenue during the holiday quarter last year.

So even though the new AirPods aren’t significantly different than the first version, you’re still getting an improvement over one of Apple’s biggest breakouts hits. If you didn’t buy AirPods before, now is a great time to get them.

Here’s what you need to know.


Company: cnbc, Activity: cnbc, Date: 2019-04-01  Authors: todd haselton
Keywords: news, cnbc, companies, wired, dont, need, apples, upgrade, model, airpods, yearso, youre, wearables, siri, great, apple, wireless


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Apple’s new AirPods are great, but you don’t need to upgrade if you already own the first model

What’s goodSecond-generation Apple AirPods Todd Haselton | CNBCThe second-generation AirPods look and function almost exactly the same as the first generation, and they cost just as much at $159. But they cost $199 if you want the optional wireless charging case that works with standard wireless chargers. You can also buy the wireless charging case separately for $79.99 and use them with your first-generation AirPods. That’s a feature that might come in the next iPhones, however, which would mak


What’s goodSecond-generation Apple AirPods Todd Haselton | CNBCThe second-generation AirPods look and function almost exactly the same as the first generation, and they cost just as much at $159. But they cost $199 if you want the optional wireless charging case that works with standard wireless chargers. You can also buy the wireless charging case separately for $79.99 and use them with your first-generation AirPods. That’s a feature that might come in the next iPhones, however, which would mak
Apple’s new AirPods are great, but you don’t need to upgrade if you already own the first model Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-01  Authors: todd haselton
Keywords: news, cnbc, companies, great, charging, apples, siri, dont, model, airpods, apple, case, need, iphone, todd, upgrade, wireless


Apple's new AirPods are great, but you don't need to upgrade if you already own the first model

Wearing the second-generation Apple AirPods. Todd Haselton | CNBC

I’ve been testing Apple’s second-generation AirPods, which add a couple of new features including wireless charging, better battery life for phone calls and support for calling up Siri whenever you want by saying, “Hey Siri.” They’re very good and still my top pick for wireless headphones. But you don’t need to upgrade to these if you have the first-generation model. Still, AirPods have turned into a blockbuster hit for Apple. In just 2½ years, they’ve become almost as ubiquitous as the standard wired Apple earbuds that have been around since the original iPod. Along with the Apple Watch, AirPods have helped grow the company’s wearables and accessories category to $7.3 billion in revenue during the holiday quarter last year. So even though the new AirPods aren’t significantly different than the first version, you’re still getting an improvement over one of Apple’s biggest breakouts hits. If you didn’t buy AirPods before, now is a great time to get them. Here’s what you need to know.

What’s good

Second-generation Apple AirPods Todd Haselton | CNBC

The second-generation AirPods look and function almost exactly the same as the first generation, and they cost just as much at $159. But they cost $199 if you want the optional wireless charging case that works with standard wireless chargers. You can also buy the wireless charging case separately for $79.99 and use them with your first-generation AirPods. Wireless charging works well. Just drop the case on a pad and a small indicator light on the front of the case tells you they’re getting juice. You don’t need to plug them in, but you can if you want to with a Lightning cable. I did this most of the time by habit and rarely found myself using wireless charging. I wish I could charge them by placing them on the back of an iPhone, as you can with Samsung’s new Galaxy S10, which can power other devices. That’s a feature that might come in the next iPhones, however, which would make wireless charging more fun.

Second-generation Apple AirPods using a wireless charging pad. Todd Haselton | CNBC

The new AirPods switch between devices quickly, too. On a train ride, I switched from listening to music on my iPhone to my Mac in just a couple of seconds. Then I was able to switch to an iPad just as fast. You can still do this with the first-generation model, but it’s slightly faster with the new model. “Hey Siri” works well, too. Just speak that phrase and you can request a playlist. (But it only works for Apple Music. Other services, like Spotify, aren’t supported.) The microphone is impressive and was almost always able to hear me. I liked the convenience of using this to send a text message, though it felt a little weird doing this in public, as if I was talking to myself. Plus, you can still pull up Siri on the first gen model by tapping the side of those AirPods. The battery life is great. I never had issues with my first-generation model, but my colleagues said they would often die after about an hour-long phone call and would need to be recharged in the case. I talked on the phone for 40 minutes straight and that drained the battery to 81 percent, which is a big improvement. Apple promises up to three hours of talk time, so you’ll probably get close to that. Calls were clear, too. People thought I was talking right on my phone, and Apple made enhancements that specifically focus on call quality. It’s even better than Samsung’s new Galaxy Buds, which are a good alternative if you don’t own an iPhone or want something different.

What’s bad

The new model on the left looks almost identical to the old model on the right. Note the new charging indicator light on the left. Todd Haselton | CNBC

The price, $200, is a lot to spend on headphones, so save money and get the model without wireless charging for $159, which still includes better battery life and “Hey Siri” support. Wireless charging would have been a lot more appealing if Apple launched AirPower, a product that was officially canceled last week and would have allowed you to charge your iPhone, Apple Watch and AirPods at the same time. Without AirPower, you need to have a separate wireless charging just to juice up AirPods, and I found I just didn’t use that function as much as I thought I would. Maybe if future iPhones let you wirelessly charge the AirPods that feature will be more compelling, but right now it isn’t. Ultimately, this model is a tiny upgrade over the first one. You don’t get water resistance, a feature other sportier buds have. They also don’t have noise canceling, like other pricey headphones have. The AirPods are the same size and shape as the standard wired buds that come with your iPhone, and they stayed in my ears just fine while working out in the gym. But I’ve heard that isn’t the case for everyone. We all have different sized ears, so if the first models didn’t fit right, these won’t either. There aren’t adjustable earbud covers to help them fit other ears, which you get with other products like Samsung’s Galaxy Buds.

Should you buy them?

Second-generation Apple AirPods with wireless charging indicator Todd Haselton | CNBC


Company: cnbc, Activity: cnbc, Date: 2019-04-01  Authors: todd haselton
Keywords: news, cnbc, companies, great, charging, apples, siri, dont, model, airpods, apple, case, need, iphone, todd, upgrade, wireless


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Boeing shares rise on report 737 Max fix could come sooner than expected

Shares of Boeing rebounded Friday after a report that the plane manufacturer plans to roll out a software upgrade for its 737 Max aircraft in the coming weeks. The report from Agence France-Presse, citing sources, comes after the U.S. grounded all Boeing 737 Max jets this week. The software upgrade is expected to roll out in 10 days, according to AFP. Ethiopian Airlines Flight 302 crashed on Sunday, less than five months after the crash of Lion Air Boeing 737 Max 8 flight from Jakarta, Indonesia


Shares of Boeing rebounded Friday after a report that the plane manufacturer plans to roll out a software upgrade for its 737 Max aircraft in the coming weeks. The report from Agence France-Presse, citing sources, comes after the U.S. grounded all Boeing 737 Max jets this week. The software upgrade is expected to roll out in 10 days, according to AFP. Ethiopian Airlines Flight 302 crashed on Sunday, less than five months after the crash of Lion Air Boeing 737 Max 8 flight from Jakarta, Indonesia
Boeing shares rise on report 737 Max fix could come sooner than expected Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-15  Authors: kate rooney
Keywords: news, cnbc, companies, max, upgrade, boeing, airlines, report, months, shares, 737, week, software, stock, fix, come, sooner, rise, expected


Boeing shares rise on report 737 Max fix could come sooner than expected

Shares of Boeing rebounded Friday after a report that the plane manufacturer plans to roll out a software upgrade for its 737 Max aircraft in the coming weeks.

The report from Agence France-Presse, citing sources, comes after the U.S. grounded all Boeing 737 Max jets this week. The software upgrade is expected to roll out in 10 days, according to AFP. Still, the company told CNBC the overall timeline has not changed.

The Federal Aviation Administration followed the lead of dozens of other countries, citing links between two fatal crashes as grounds to cancel those flights. Boeing’s stock has tanked more than 10 percent this week in the aftermath.

Shares rose roughly 3 percent Friday afternoon following the report, its best day in more than a month. The stock is still having its worst week since early 2016.

A weeks-long turnaround would come much sooner than some on Wall Street had estimated. Bank of America predicted this week that it would take the aircraft manufacturer three to six months to “certify the fix.”

Ethiopian Airlines Flight 302 crashed on Sunday, less than five months after the crash of Lion Air Boeing 737 Max 8 flight from Jakarta, Indonesia, killing all 189 people on board. Both planes were new, delivered from Boeing just months before those flights.

Of the more than 350 Boeing 737 Max jets in global fleets, 74 are flown by U.S. airlines United Airlines, American Airlines and Southwest Airlines, according to the FAA.

— CNBC’s Leslie Josephs , Meghan Reeder and J.R. Reed contributed reporting.


Company: cnbc, Activity: cnbc, Date: 2019-03-15  Authors: kate rooney
Keywords: news, cnbc, companies, max, upgrade, boeing, airlines, report, months, shares, 737, week, software, stock, fix, come, sooner, rise, expected


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Apple shares rise after upgrade by Bank of America

Bank of America upgraded Apple shares to buy from neutral on Monday, saying the recent pullback in the stock “presents opportunity.” The bank also raised its 12-month price target to $210 from $180. Apple’s shares rose 1.7 percent in premarket trading Monday to $175.80. Our scenario analysis suggests that shares are discounting a “declining hardware” scenario (ex-cash, services), and the debate hinges on the L/T trajectory. Our new PO of $210 is based on assumptions closer to scenario 2 (flat ha


Bank of America upgraded Apple shares to buy from neutral on Monday, saying the recent pullback in the stock “presents opportunity.” The bank also raised its 12-month price target to $210 from $180. Apple’s shares rose 1.7 percent in premarket trading Monday to $175.80. Our scenario analysis suggests that shares are discounting a “declining hardware” scenario (ex-cash, services), and the debate hinges on the L/T trajectory. Our new PO of $210 is based on assumptions closer to scenario 2 (flat ha
Apple shares rise after upgrade by Bank of America Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-11  Authors: john melloy
Keywords: news, cnbc, companies, stock, upgrade, america, shares, hardware, services, bank, rise, sp, scenario, weakness, growth, apple, note


Apple shares rise after upgrade by Bank of America

Bank of America upgraded Apple shares to buy from neutral on Monday, saying the recent pullback in the stock “presents opportunity.”

The bank also raised its 12-month price target to $210 from $180. Apple’s shares rose 1.7 percent in premarket trading Monday to $175.80.

Here’s what analyst Wamsi Mohan said in the note about the upgrade:

“AAPL stock is down 26% from its peak (S&P down 9%) and up 9% YTD (inline with S&P 500 and below the [tech sector’s return] of 13%). Our scenario analysis suggests that shares are discounting a “declining hardware” scenario (ex-cash, services), and the debate hinges on the L/T trajectory. In our opinion, weakness in hardware is not entirely structural. Our new PO of $210 is based on assumptions closer to scenario 2 (flat hardware, and somewhat slower than historical growth in Services).”

Mohan, who made a prescient downgrade of the stock at the start of November, listed in the note eight other reasons why Apple is a buy now, including “stability of supply chain order cuts” and “growth across healthcare, wearables and increasing services penetration.”

The analyst also noted that some of the weakness in China could be blamed on the strength of the U.S. dollar and now that China’s yuan has rebounded vs. the dollar this year, it could become a positive for Apple sales in the country.

— With reporting by CNBC’s Michael Bloom


Company: cnbc, Activity: cnbc, Date: 2019-03-11  Authors: john melloy
Keywords: news, cnbc, companies, stock, upgrade, america, shares, hardware, services, bank, rise, sp, scenario, weakness, growth, apple, note


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Samsung just announced the first foldable phone you can buy and it will cost $1,980

There are two batteries, one on each side of the fold, that allow the tablet to fold in half easier. Both Samsung and Apple have seen their smartphone market share lose ground to companies like Huawei, which makes phones with similar features at a lower cost. Folding phones, which so far have only been shown as prototypes by Samsung and other companies like Xiaomi, could usher in a new wave of unique smartphone form factors that will excite customers to upgrade.


There are two batteries, one on each side of the fold, that allow the tablet to fold in half easier. Both Samsung and Apple have seen their smartphone market share lose ground to companies like Huawei, which makes phones with similar features at a lower cost. Folding phones, which so far have only been shown as prototypes by Samsung and other companies like Xiaomi, could usher in a new wave of unique smartphone form factors that will excite customers to upgrade.
Samsung just announced the first foldable phone you can buy and it will cost $1,980 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-20  Authors: todd haselton
Keywords: news, cnbc, companies, foldable, samsung, usher, cost, buy, announced, phone, 1980, companies, upgrade, wave, xiaomi, phones, fold, unique, smartphone


Samsung just announced the first foldable phone you can buy and it will cost $1,980

There are two batteries, one on each side of the fold, that allow the tablet to fold in half easier.

Both Samsung and Apple have seen their smartphone market share lose ground to companies like Huawei, which makes phones with similar features at a lower cost. Folding phones, which so far have only been shown as prototypes by Samsung and other companies like Xiaomi, could usher in a new wave of unique smartphone form factors that will excite customers to upgrade.


Company: cnbc, Activity: cnbc, Date: 2019-02-20  Authors: todd haselton
Keywords: news, cnbc, companies, foldable, samsung, usher, cost, buy, announced, phone, 1980, companies, upgrade, wave, xiaomi, phones, fold, unique, smartphone


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Samsung just announced the first foldable phone you can buy and it will cost $1,980

There are two batteries, one on each side of the fold, that allow the tablet to fold in half easier. Both Samsung and Apple have seen their smartphone market share lose ground to companies like Huawei, which makes phones with similar features at a lower cost. Folding phones, which so far have only been shown as prototypes by Samsung and other companies like Xiaomi, could usher in a new wave of unique smartphone form factors that will excite customers to upgrade.


There are two batteries, one on each side of the fold, that allow the tablet to fold in half easier. Both Samsung and Apple have seen their smartphone market share lose ground to companies like Huawei, which makes phones with similar features at a lower cost. Folding phones, which so far have only been shown as prototypes by Samsung and other companies like Xiaomi, could usher in a new wave of unique smartphone form factors that will excite customers to upgrade.
Samsung just announced the first foldable phone you can buy and it will cost $1,980 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-20  Authors: todd haselton
Keywords: news, cnbc, companies, foldable, samsung, usher, cost, buy, announced, phone, 1980, companies, upgrade, wave, xiaomi, phones, fold, unique, smartphone


Samsung just announced the first foldable phone you can buy and it will cost $1,980

There are two batteries, one on each side of the fold, that allow the tablet to fold in half easier.

Both Samsung and Apple have seen their smartphone market share lose ground to companies like Huawei, which makes phones with similar features at a lower cost. Folding phones, which so far have only been shown as prototypes by Samsung and other companies like Xiaomi, could usher in a new wave of unique smartphone form factors that will excite customers to upgrade.


Company: cnbc, Activity: cnbc, Date: 2019-02-20  Authors: todd haselton
Keywords: news, cnbc, companies, foldable, samsung, usher, cost, buy, announced, phone, 1980, companies, upgrade, wave, xiaomi, phones, fold, unique, smartphone


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Traders are betting this mining stock is ready for a rally

A big name in the mining space is ready to rally. Now traders are placing bets on how high the stock can go from here. It was a bullish trader who was actually rolling a previous bullish bet from the March 12-calls out and up to the April 14s. That’s obviously a bullish bet that it’s going to be higher than that $14 strike price by at least the $0.53 that they paid,” added Khouw. That breakeven price of $14.53 is about 10 percent higher than where the stock sat on Tuesday, and about halfway betw


A big name in the mining space is ready to rally. Now traders are placing bets on how high the stock can go from here. It was a bullish trader who was actually rolling a previous bullish bet from the March 12-calls out and up to the April 14s. That’s obviously a bullish bet that it’s going to be higher than that $14 strike price by at least the $0.53 that they paid,” added Khouw. That breakeven price of $14.53 is about 10 percent higher than where the stock sat on Tuesday, and about halfway betw
Traders are betting this mining stock is ready for a rally Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-20  Authors: tyler bailey, olivia rondonuwu, afp, getty images, david a grogan
Keywords: news, cnbc, companies, bet, mining, ready, rally, bullish, betting, stock, price, strike, today, trader, higher, upgrade, saw, traders


Traders are betting this mining stock is ready for a rally

A big name in the mining space is ready to rally.

Freeport-McMoRan is on a tear, up more than 30 percent in 2019 and fresh off its upgrade from Citigroup. Now traders are placing bets on how high the stock can go from here.

Freeport-McMoRan’s upgrade stems from Citi’s valuation of their domestic core assets as favorably positioned to take advantage of what they see as a longer-term copper rally, and it’s giving the already busy stock an extra jolt.

“We saw about three times the average daily call volume in Freeport-McMoRan, and this is a name that creates quite a lot of calls to begin with. It traded over 120,000 contracts today,” “Options Action” trader Mike Khouw said Tuesday on CNBC’s “Fast Money.”

“Most active were the April 14-calls; we saw a block of 16,500 of those purchased for just over $0.50. It was a bullish trader who was actually rolling a previous bullish bet from the March 12-calls out and up to the April 14s. That’s obviously a bullish bet that it’s going to be higher than that $14 strike price by at least the $0.53 that they paid,” added Khouw.

That breakeven price of $14.53 is about 10 percent higher than where the stock sat on Tuesday, and about halfway between the strike price and Citigroup’s new price target of $16. It’s an aggressive bet, but another win certainly wouldn’t catch this trader by surprise.

“I would point out that [this trader] had already doubled their money on the calls that they were selling today, so this is somebody who was bullish prior to this bet, made money, and is taking some of those proceeds and pressing that bullish bet further out over the next 60 days,” explained Khouw.

Shares of Freeport-McMoRan were trading more than 3 percent higher on Wednesday.


Company: cnbc, Activity: cnbc, Date: 2019-02-20  Authors: tyler bailey, olivia rondonuwu, afp, getty images, david a grogan
Keywords: news, cnbc, companies, bet, mining, ready, rally, bullish, betting, stock, price, strike, today, trader, higher, upgrade, saw, traders


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